By William Gullotti and Cristal Cody
Buffalo, N.Y., July 28 – Penske Truck Leasing Co., LP sold $1.1 billion of 6.05% five-year notes at a spread of 187.5 basis points over Treasuries on Thursday, according to information provided by a market source.
Initial price talk was in the Treasuries plus 215 bps area.
BofA Securities Inc., J.P. Morgan Securities LLC, MUFG Securities Americas Inc., U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC were the bookrunners.
The truck leasing company is based in Reading, Pa.
| Issuer: | Penske Truck Leasing Co.
|
| Amount: | $1.1 billion
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| Issue: | Notes
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| Maturity: | Aug. 1, 2028
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| Bookrunners: | BofA Securities Inc., J.P. Morgan Securities LLC, MUFG Securities Americas Inc., U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC
|
| Coupon: | 6.05%
|
| Spread: | Treasuries plus 187.5 bps
|
| Trade date: | July 27
|
| Price guidance: | Treasuries plus 215 bps area
|
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